Solana News Today: Solana's First Public Gateway Opens on Nasdaq

SOL Strategies Inc., a Canadian firm focused on investing in and supporting the Solana blockchain ecosystem, has secured approval to list its common shares on the Nasdaq Global Select Market. The company will begin trading under the ticker symbol “STKE” on September 9, 2025, while continuing its listing on the Canadian Securities Exchange under the symbol “HODL”[1]. Shares will no longer trade on the OTCQB market under the symbol “CYFRF,” and existing OTCQB shareholders will see their holdings automatically converted to the Nasdaq listing without requiring additional action[1].

This development marks a milestone as the first publicly traded Solana-focused firm to gain a U.S. listing. The Nasdaq listing is expected to enhance institutional visibility for the company and provide increased liquidity for shareholders. Leah Wald, Chief Executive Officer of SOL Strategies, emphasized that the move aligns the company with leading technology firms on the exchange and positions it to attract investors who recognize the potential of Solana’s infrastructure[2].

SOL Strategies has significantly expanded its Solana staking operations since shifting its focus entirely to the Solana ecosystem in late 2024. As of June 2025, the firm reported holding over 420,000 SOL, with approximately half of that amount sourced from third-party delegators[3]. The company’s stake represents roughly 0.68% of the total supply of Solana, valued at approximately $75 million as of mid-2025[4]. These holdings have contributed to earnings of $13 million for the firm, reflecting the ongoing growth in staking rewards and validator operations[5].

The listing follows a strategic rebranding from Cypherpunk Holdings and includes a share consolidation in July 2025, reducing the total outstanding shares from over 176 million to around 22 million to meet Nasdaq requirements[6]. This move, along with other operational adjustments, reflects the company’s efforts to align with U.S. capital market standards and enhance shareholder value.

SOL Strategies expects the Nasdaq listing to accelerate validator growth through institutional partnerships and support operational scalability as demand for Solana staking increases[7]. The company’s expanded access to capital markets is intended to strengthen its position as a primary gateway for institutional investors into the Solana ecosystem. The listing is also seen as a broader validation of the Solana blockchain’s institutional adoption potential.

The approval has already had an impact on the market, with Solana’s price reaching a peak of $210 following the news, before retreating slightly to $205 in the subsequent 24-hour period[8]. Analysts have noted that the Nasdaq listing could further consolidate institutional interest in Solana infrastructure, potentially driving long-term value for both the company and the broader Solana network.

Source:

[1] First SOL-Focused Firm Wins Nasdaq Listing Approval (https://finance.yahoo.com/news/sol-strategies-takes-wall-street-213259345.html)

[2] SOL Strategies: The First Solana Treasury Company Listed (https://www.mitrade.com/insights/news/live-news/article-3-1100922-20250906)

[3] NASDAQ Approves SOL Strategies Global Select Market Listing (https://www.barchart.com/story/news/34632788/nasdaq-approves-sol-strategies-global-select-market-listing)

[4] SOL Strategies Wins Nasdaq Listing, Shares to Trade (https://www.coindesk.com/business/2025/09/05/sol-strategies-wins-nasdaq-listing-shares-to-trade-under-stke)

[7] NASDAQ Approves SOL Strategies Global Select Market Listing (https://solstrategies.io/nasdaq-approves-sol-strategies-global-select-market-listing/)